MetaMask partners with Mastercard and Baanx to launch a new crypto debit card

MetaMask has teamed up with Mastercard and Baanx to launch a new crypto debit card, allowing users to make purchases directly from their MetaMask wallets while maintaining control of their funds. This card simplifies the process of using cryptocurrencies for everyday transactions by functioning as a debit card that draws directly from the user's crypto balance and is accepted anywhere Mastercard is. Initially available as digital-only cards to select users in the EU and UK, it supports USDC, USDT, and WETH on the Linea network, and integrates with Apple Pay and Google Pay. Lorenzo Santos, a senior product manager at Consensys, lauded the development as a major step toward bridging the gap between blockchain and traditional payments.

Despite this innovation, MetaMask is embroiled in a legal dispute with the US Securities and Exchange Commission (SEC) over its staking services and Swap feature. The SEC alleges that MetaMask has been offering unregistered securities and engaging in broker-dealer activities. Consensys, the parent company of MetaMask, is seeking an expedited trial to address these regulatory uncertainties.

Source: CCN